"This has been an extremely difficult selection and I am grateful to each of the three exceptionally qualified candidates for their applications and professional proposals," says Tim Romani, vice chancellor for planning and development at CU-Health Sciences Center. "We look forward to finalizing terms of the purchase and collaborating on the master redevelopment plan with Shea Properties."
Shea Properties is based in Walnut, CA. Locally, it owns the 22,000-sf Highlands Ranch in Douglas County and the 2,500-acre Reunion community in Commerce City.
Archstone-Etkin, AIG, and Shea Properties each submitted redevelopment proposals in January, and a seven-member selection panel met to evaluate each proposal and assess both the financial and development plans.
"The developer will work with CU-Health Sciences Center to continue the neighborhood outreach efforts that are essential to a successful redevelopment," says Dr. James H. Shore, chancellor of CU-Health Sciences Center. "They will work with the city of Denver and adjacent neighbors to develop a plan consistent with the planning guidelines and compatible with the neighborhood context."
CU-Health Sciences Center will complete its relocation to Fitzsimons in 2008, and the redevelopment of the East Ninth Avenue campus will commence after the relocation is complete. The master plan will be submitted to the Colorado General Assembly by June 30.
The University of Colorado Health Sciences Center is one of four campuses in the University of Colorado system.
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